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 07/06/2007

Circular

From May 27 to June 2, 2007 the Russian delegation from the Federal Financial Monitoring Service led by its Head, Mr. Zubkov, took part in the Egmont Group Plenary Meeting held on Bermuda.

At the Plenary Meeting the FIUs of the following states were accepted for the Group: Armenia, Belarus, India, Nigeria, Niue and Syria. Rosfinmonitoring was the official promoter of the FIUs of Armenia and Belarus. Thus, the Egmont Group unites now FIUs of 106 states of the world.

At the Plenary the analysis of the legislation in the state-members concerning the FIU authority to combat financing of terrorism was summarised. The core point of the Plenary Meeting was the approval of the Statute based on the prior accepted documents of the Group. The Egmont Group will have Secretariat with the headquarters in Toronto (Canada). Besides, it is recognized by the Canadian Government as the Secretariat of an international organization (such recognition, though without official registration of the organization in the UN as the official international organization, is allowed in accordance with the Canadian legislation). The Canadian part has taken all the costs relating to the maintenance of the Secretariat till 2011.

The Group agreed on the funding formula, according to which the annual contribution will be formed of two parts: the base contribution in the amount of 2500 for all the FIUs and the contribution calculated in accordance with the formula similar to the one of OECD with DDP to DDP per capita as 75% to 25%. Besides, the maximum contribution falls on 7 leading states, members of the G8. The first fiscal year with the budget formed on the base of the members’ contributions will be the fiscal year started from July 1, 2008. Before this date it is suggested to the FIUs to finish all the necessary internal procedures.

The Statute is not the paper which is to be signed by the states. The FATF concept, under which a state expressed its readiness to respect the rules of the organization including liability to make contributions, was accepted.

Within the framework of the Plenary Meeting Rosfinmonitoring signed an agreement on cooperation with the FIU of Rumania. The talks on the text of the agreements were carried on with the FIUs of Australia, Canada, San-Marino, Montenegro, Thailand and Paraguay. With the FIU of Montenegro it is agreed on to sign an agreement at the beginning of July, 2007.

In the framework of the meeting with the representative of the FATF Secretariat, Mr. Schmoll, the manager of the group of experts who are to carry on the mutual evaluation of the Russian Federation (in September and November, 2007), the arrangement issues were discussed and some organizational aspects were agreed on.


 

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